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Commercial Bank comes out with Bangladesh’s maiden bond paper
Commercial Bank of Ceylon is taking Bangladesh’s nascent capital markets up another step by issuing the country’s first debenture issue shortly. Commercial Bank of Ceylon is taking Bangladesh’s nascent capital markets up another step by issuing the country’s first debenture issue shortly. The 500 mn taka (US$ 7.7 mn) bond issue is likely to carry […]
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Sri Lanka must provide international and regional disaster warning centres with a 24-hour, 365-day means of contact, say local experts. Sri Lanka must provide international and regional disaster warning centres with a 24-hour, 365-day means of contact, say local experts. "The government needs to designate specific contact points for these institutions to reach us in […]
Double Celebrations
Lanka IOC Ltd., a Sri Lankan fuel retailer, Thursday said its net profit for the nine months to December more than doubled after the company opened more filling stations on the island during that period.Lanka IOC Ltd., a Sri Lankan fuel retailer, Thursday said its net profit for the nine months to December more than […]
Audit Check
Sri Lanka has asked local and international aid agencies to disclose their tsunami-relief operations and sources of funding, saying the information was essential to reduce waste.Sri Lanka has asked local and international aid agencies to disclose their tsunami-relief operations and sources of funding, saying the information was essential to reduce waste. The Finance Ministry in […]
Local Mint
State run National Savings Bank stepped into the lucrative US$ 1.5 bn foreign worker remittances market by offering savings and fixed deposit products. State run National Savings Bank stepped into the lucrative US$ 1.5 bn foreign worker remittances market by offering savings and fixed deposit products. So far, the savings giant has been picking up […]
Makeover
Sri Lanka Telecom says it has appointed MTI Consulting to ‘dress up’ its brand, following an intense global round of competitive bidding.Sri Lanka Telecom says it has appointed MTI Consulting to ‘dress up’ its brand, following an intense global round of competitive bidding. MTI’s task is to take this ‘Legacy Brands’ up to the next […]
In the Dark
Power politics is pushing the Ceylon Electric Board (CEB) into a financial crisis with debts mounting and no increase in revenues. Power politics is pushing the Ceylon Electric Board (CEB) into a financial crisis with debts mounting and no increase in revenues. Government dithering on reforms has put the CEB’s debt restructuring in limbo and […]
NGOs to register with govt., to help state better coordinate relief work
The Finance Ministry Wednesday set up a new office under its External Resources Department (ERD) to coordinate non-government organisations (NGO) post tsunami aid activities. The voluntary signup, ERD’s Kishan Theodore said, would help avoid duplication of effort and spread available resources around all affected areas. “Non-Governmental Organisations are encouraged to obtain the agreement of the […]
Tsunami a blessing in disguise for Sri Lanka’s economy
The Indian Ocean tsunamis killed 31,000 people in Sri Lanka and caused unprecedented damage, but were also a blessing to its economy which had been heading for a major catastrophe, according to analysts.The Indian Ocean tsunamis killed 31,000 people in Sri Lanka and caused unprecedented damage, but were also a blessing to its economy which […]
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Sri Lanka’s key lenders will hold fresh talks with Tamil Tiger rebels to assess tsunami damage amid hopes of finalising a reconstruction plan estimated to cost 1.5 billion dollars, officials said Sri Lanka’s key lenders will hold fresh talks with Tamil Tiger rebels to assess tsunami damage amid hopes of finalising a reconstruction plan estimated […]
Cabinet clears proposal for duty free imports for hotels damaged by the tsunami
Government lifts import duties temporarily on reconstruction material and vehicles for tsunami damaged tourism companies.Government lifts import duties temporarily on reconstruction material and vehicles for tsunami damaged tourism companies. Hotels damaged by the tsunami can import reconstruction material free of all import duties, said the Ministry of Tourism on Tuesday. “Cabinet has approved, on principle, […]
Not Funny
Depositors and creditors of the failed Pramuka Bank sought legal action on Tue demanding Rs. 6 bn as damages from the regulator, the auditors and directors. Depositors and creditors of the failed Pramuka Bank sought legal action on Tue demanding Rs. 6 bn as damages from the regulator, the auditors and directors. The District Court […]